The Massachusetts Development Finance Agency issued a $20 million tax-exempt bond on behalf of Wayne at Columbia LLC, which will use bond proceeds to purchase and renovate seven buildings containing 83 units of affordable housing in Boston's Dorchester and Mattapan neighborhoods.
The Wayne at Columbia project is part of the overall redevelopment of the Wayne Apartments project, a scattered site development serving 349 lower-income households in Roxbury, Dorchester, and Mattapan.
Project developer Cruz Development Corp. of Roxbury was also the developer of the Wayne at Franklin Hill community, a major renovation of 72 units of affordable housing that used proceeds from a $9.9 million MassDevelopment bond for the purchase and renovation of the units.
MassDevelopment is the commonwealth's finance and development agency.
